IMF Staff Country Reports

Nigeria: Request for a Two-Year Policy Support Instrument

Publication Date:

December 19, 2005

Electronic Access:

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Summary:

This paper presents Nigeria’s Request for a Two-Year Policy Support Instrument to support its reform efforts. All three tiers of government have adhered to a conservative oil price-based fiscal rule, resulting in large overall budget surpluses and a significant buildup of international reserves. The authorities have also initiated a broad structural reform program. GDP growth has been robust, benefiting from the improved macroeconomic environment and policy initiatives to spur agricultural production; and the medium-term growth outlook is favorable.

Series:

Country Report No. 2005/432

Subject:

Commodities Expenditure Fiscal policy Money Taxes